IQ Biometrix goes public in reverse merger
CUPERTINO, Calif.-IQ Biometrix California Inc., provider of facial comparison security software, signed a reverse merger agreement in late February with JV Web, Houston.
The reverse merger is designed to accelerate IQ Bio-metrix's growth by making it a publicly traded company.
Terms of the reverse merger include up to $1 million in equity funding commitments and appointments of JV Web personnel to IQ Biometrix posts.
Greg Micek, founder of JV Web, was named chief financial officer, while Richard Thompson was appointed chief operating officer. Eric McAfee, principal of Berg McAfee Cos. here was named vice chairman of the board of directors.
IQ Biometrix has filed for a new stock symbol. JV Web had been a provider of electronic commerce solutions.